Iran to open energy bourse by March 2012

TEHRAN,Dec.25 (MNA)--Iran will inaugurate its energy bourse by the end of the current calendar year (March 20, 2012), Mirfattah Qarebagh, the managing director of Electricity Network Management Company of Iran told. Steps are being taken to establish an energy bourse which will focus on electricity, said Energy Minister Majid Namjou in July. He added that the Energy Ministry approved the establishment of the bourse in the past Iranian year. Coordination on this will be made with the Bourse Organization, he said, adding once operational, the bourse will facilitate the sale and purchase of energy, provide funds for producers, supply energy to distributors and consumers, appraise prices, provide risk coverage, make transactions more transparent, ease energy exchange and reduce costs.